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Yaoundé - 11 December 2019 -
Finance

Acam Vie adds XAF1 bln to share capital

Acam Vie adds XAF1 bln to share capital
  • Comments   -   Wednesday, 28 August 2019 14:50

(Business in Cameroon) - Via a legal notice published on August 28, 2019, insurance company Société assurances du Cameroun Vie SA (Acam Vie) informed that since May 2019, it increased its share capital from XAF2 billion to XAF3 billion.  

This minnow of the Cameroonian life insurance sector, which started operations in 2016, thus created 2,000 new shares, the notarized acts indicate. The identity of the new shareholders is still unknown.  

According to figures provided by the ministry of finance in 2018, four companies dominate the life insurance market (about 85.6% of the market). They are Allianz vie (XAF18.7 billion), Beneficial Life (XAF10.3 billion), Sunu Assurances Vie (XAF9.9billion) and Activa Vie (XAF7.6 billion). During the period under review, the market grew by 5.38%.

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